Updated · Jun 06, 2022
Best for: Companies looking for an easy way to track business travel expenses
What Is Rydoo?
According to the Grand View Research report, the travel and expense management software industry will see a lot of growth in the near future. GVR predicts the sector will experience a compound annual growth rate (CAGR) of 12.4% from 2020 to 2027. It means that by 2027, the market value will hit $17.4 billion.
But where does the Rydoo app fit in this industry? This top business trip and expenditure application was created by three companies: Sodexo, iAlbatros, and Xpenditure. It helps to keep track of any travel expenses for business trips to see what needs reimbursing quickly.
The tool allows employees to scan receipts, track mileage, and give employers a quick overview of what expenses need reimbursing. If you need to calculate per diem expenses automatically, you can rely on this solution.
The expense module ensures automated and simplified management of spendings. Consequently, your finance teams can easily manage reimbursements in real-time and control the budget.
Rydoo comes with some nifty features, including:
Say goodbye to saving crumpled receipts when on a business trip. With Rydoo, you can have your employees send proof of their expenses on the go. You simply take a picture of it, and the Rydoo app technology extracts data like date, merchant, amount, and currency.
Rydoo uses Optical Character Recognition (OCR) technology to accurately read 95% of all receipts entered. Once scanned, the app sends off the data and waits for approval. If you have electronic receipts instead of paper, you can forward them using your work email, and it will automatically appear in the app.
Rydoo can hold your records for up to ten years.
Automated Expense Approvals
Even if you replaced spreadsheets with a digital expense tracking tool, it can still take up a lot of time. But with an automated budget, you can reduce your workload. Instead of checking expenses, you can specify the criteria that will automatically be approved when met.
In case of out-of-policy expenses, the Rydoo travel app will share a warning of non-compliance. Rydoo provides a customizable free template for creating expense management policies to ensure everybody is aware of company guidelines.
Per Diem Management
Per diem is the money given to an employee for daily expenses while on a business trip. The Rydoo travel app per diem module helps you manage and scale these rates with ease.
You can set a benchmark for your company or use the default limits for specific countries or regions. Based on details for the trip, Rydoo automatically calculates an employee’s per diem allowance. The app deducts complimentary meals or extras from the staff’s total budget amid other functions.
On top of that, the Rydoo finance software helps you stay compliant with local tax regulations. You achieve this by adding per diem lists to your account. Employees can create rules for multi-leg trips.
Rydoo makes it easy to get the reports you require in no-time. While it saves a lot of time, it also ensures that no poor spending habits are missed. Many Rydoo reviews show that this feature is highly valued.
Rydoo offers a variety of report types:
- Reimburse report: List all approved and reimbursable expenditures.
- Standard report: Build this from filters or manually using expenses.
- Accounting report: All employees’ reimbursable expenditures and available to finance personnel only.
- Export file: All the linked accounts, and only administrators have access to it.
As statistics show, companies spend about $111.7 billion annually on business travel, with an average of $1,286 per trip. To anticipate how much it will cost your company, you can use Rydoo Insights.
This feature predicts your upcoming expense claims based on previous experiences. You’ll effectively avoid overspending and find expenses that don’t comply with your company policy. It helps you identify new cost-saving opportunities and find partnerships with top merchants at negotiable rates.
The Rydoo application also lets you measure the ROI of your decisions.
Over 900 thousand professionals in over sixty countries use the expense report tool, and Rydoo reviews show they love Insights.
Rydoo Mobile Expense App
There is a Rydoo Android app and one for iOS. The application helps you manage expenditure accounting on the go, making it easy to approve or reject requests from your phone. You can centralize all your receipts in one place.
One nifty feature of the app is that you can add mileage expenses from your phone. Once you enter a destination, the software will calculate the distance covered.
When linking accounts, you enable employees to scan and submit expenses on behalf of their managers. Note that the app can do all this using OCR technology.
Ease of Use and Interface
The Rydoo dashboard is clear and easy to understand. It has a user-friendly and intuitive interface with a minimalist design. Although managing expenses may seem confusing and boring, the tool keeps everything simple.
Rydoo’s web dashboard boasts an easy-to-understand graphic design. The functions are on the left side, including travel details, expenses, transactions, reports, and setup. The tabs show your personal account data.
The Rydoo application dashboard comes in multiple languages, making it accessible for users worldwide.
Rydoo offers some of the best integrations with top brands and accounting software. Here are some of them:
- Slack: Allows for easy communication among teammates and allows you to approve, reject, and upload expenses directly from the application. You can simply add a receipt to Slack, and Rydoo will save it into your account.
- Rydoo Uber: Automatically receive all business travel receipts from Uber.
- Lyft: Automatically receive all receipts from Lyft.
- SAP: The combination of SAP and the Rydoo travel solution helps you streamline your financial processes. You can scan your receipts for Rydoo to extract the information and export it to SAP.
- QuickBooks: Allows for easy invoicing and payment acceptance.
- Dropbox: When connected with Rydoo, you can send your account expenses with ease.
The expense management tool promises to get you up and running in no time. Depending on your company’s size, you can choose between the Starter, Growth, or Enterprise package. Your plan will determine the type of customer support you get.
When signing up with the platform, you will receive a dedicated relationship manager. This person is your go-to for any questions or complaints regarding the tool.
Alternatively, there are educational videos to help when you hit a roadblock. The software has a support team that speaks nine languages. However, despite these seemingly great qualities, not everyone is pleased with Rydoo’s customer support.
Many Rydoo reviews show that it took weeks to get a response to their request. When the reply finally arrives, it doesn’t always resolve the issues. The software creators need to address this problem and improve their customer support.
Rydoo has three payment packages, including:
$7/Month/User (billed annually)
5-50 users, scan receipts, submit and manage mileage expenditures, and expense approvals.
$9/Month/User (billed annually)
Or $11/month/user (billed monthly) - 50+ users, everything included in the Starter Plan, policies, per diems, and unlimited branches.
There is a 14-day free trial to test the software before committing financially. Your subscription renews automatically. Although it appears easy to cancel a plan, users have a different opinion.
Most people who have attempted a cancelation find that it doesn’t go through most of the time. Also, the company fails to send a confirmation email. Another downside is that you’ll be unable to view your reports unless you re-subscribe.
Rydoo Review - Verdict
If what you’re looking for is a finance system that can track business travel expenses, this tool is for you. The Rydoo expenses app offers flexible and attractive pricing, has international expenditure tracking, and compelling Optical Character Recognition. Rydoo saves all your data in line with the European Data Protection Directive regulations.
While all these are applaudable, there are some downsides. For instance, email customer service is slow to respond. On the bright side, they aim to reply within 24 hours. Still, even when they reply, their help isn’t always useful. You can also reach out to live chat, but the waiting time for this channel is also an issue.
Additionally, many users complained about issues regarding canceling their subscriptions. However, the company just recently launched a new subscription model that allows users to manage their subscriptions easily. In this Rydoo review, we urge you to think carefully before subscribing to the platform due to these issues.
I am a natural-born connector, known for long-standing and effective business partnerships. I am fuelled by my passion for human resources and my genuine love of connecting with others. To date, my knowledge & determination to transform information into action & initiatives have contributed to my successful career. HR is something that I live and breathe, and I know the impact it has in transforming businesses; and the lives of those who work inside it.
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